Wednesday, October 2, 2013

Mt.Gox Bitcoin exchange freezes US dollar withdrawals for two weeks

Mt.Gox Bitcoin exchange freezes US dollar withdrawals for two weeks data = {blogUrl: "",v: 315};when = {jquery: lab.scriptBs("jquery"),plugins: lab.scriptBs("plugins"),eng: lab.scriptBs("eng")}; var s265prop9 = ('20630136' !== '') ? 'bsd:20630136' : ''; var postID = '20630136'; var modalMNo = '93319229', modalVideoMNo = '93320648', modalGalleryMNo = '93304207'; when.eng("eng.omni.init", {pfxID:"weg",pageName:document.title,server:"",channel:"us.engadget", s_account: "aolwbengadget,aolsvc", short_url: "",pageType:"",linkInternalFilters:"javascript:,",prop1:"article",prop2:"internet",prop9:s265prop9,prop12:document.location,prop17:"",prop18:"",prop19:"",prop20:"", prop22:"jon-fingas", prop54:"blogsmith",mmxgo: true }); adSendTerms('1')adSetMOAT('1');adSetAdURL('/_uac/adpagem.html');lab._script("").wait(function(){var floatingAd = new AdhesiveAd("348-14-15-14d",{hideOnSwipe:true});}); onBreak({980: function () { adSetType("F");htmlAdWH("93319229", "LB", "LB"); adSetType("");}}); EngadgetMenu NewsReviews Features Galleries VideosEventsPodcasts Engadget ShowTopics Buyers Guides Sagas Store HD Mobile Alt Announcements Cameras Cellphones Desktops Displays Gaming GPS Handhelds Home Entertainment Household Internet Laptops Meta Misc Networking Peripherals Podcasts Robots Portable Audio/Video Science Software Storage Tablets Transportation Wearables Wireless Acer Amazon AMD Apple ASUS AT&T Blackberry Canon Dell Facebook Google HP HTC Intel Lenovo LG Microsoft Nikon Nintendo Nokia NVIDIA Samsung Sony Sprint T-Mobile Verizon About UsSubscribeLike Engadget@engadgettip uswhen.eng("eng.nav.init")when.eng("") onBreak({980: function () {htmlAdWH("93308280", "215", "35",'AJAX','ajaxsponsor');}});Mt.Gox Bitcoin exchange freezes US dollar withdrawals for two weeksBypostedJun 20th, 2013 at 9:36 PM 0

MtGox Bitcoin exchange freezes US dollar withdrawls for two weeks

It's easy to see that the Bitcoin market is under stress when there's rising overall activity and tighter oversight. However, it's now so hectic that the Mt. Gox exchange has trouble fulfilling even basic transactions -- and the institution is freezing US dollar withdrawals for two weeks to keep things in check. Mt. Gox's team will use the downtime to upgrade its trading system and (hopefully) address the heavy workload. Deposits and transfers in American currency should still be good to go. Let's just hope that Mt. Gox manages smoother transitions in the future -- after all, not everyone can afford to leave their money in limbo during a tech refresh.



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